NNN 2002 Value Fund and NNN 2003 Value Fund Investor Alert: Securities Lawyers Investigating
The NNN Value Funds are limited liability companies that operate nonresidential buildings, according to files from the Securities and Exchange Commission (SEC). Both the NNN 2002 Value Fund and NNN 2003 Value Fund were managed by Triple Net Properties, founded in 2003 and based in Santa Ana, California, where Tony Thompson served as CEO. NNN is the often used to abbreviate triple net lease, an investment similar in many ways to TIC (tenant- in-common) investments. These types of investments give investors the ability to invest in a small portion of commercial real estate and have distinct tax benefits. However, these are complex investment products and as such carry significant risks.
Risks and Lack of Liquidity Make NNN Risky for Most Investors
Both NNN Funds were reportedly offered to investors as private placements, which are unregistered securities products, and therefore lack regulatory oversight compared to more traditional products such mutual funds or stocks. The risks and lack of liquidity associated with private placement often make them unsuitable for most investors. NNN 2003 Value Fund, LLC engages in the purchase, ownership, operation, and sale of properties principally in the United States. As of June 30, 2007, the company had interests in 8 properties, including 5 consolidated interests in office properties with an aggregate total gross leasable area (GLA) of 835,000 square feet and 3 unconsolidated interests in office properties with an aggregate total GLA of 1,140,000 square feet.
The NNN investments are typically sold to investors by their investment professionals or stockbrokers. When making an investment, a stockbroker has a duty to ensure that such investment is suitable to the investor’s risk profile, and that all risks surrounding the investment are adequately disclosed to the investor. Generic, boilerplate language is generally insufficient.
Investment Fraud Lawyers Investigating
If you have concerns or questions regarding your interests in NNN 2002 Value Fund LLC or NNN 2003 Value Fund LLC, and would like to speak to an experienced securities attorney about your investment, please contact the Peiffer Wolf Carr & Kane securities practice attorneys.
The Peiffer Wolf Carr & Kane securities attorneys often represent investors who lose money as a result of stockbroker misconduct or improper investment recommendations. They are currently investigating the possibility of assisting investors with the recovery of any losses they may have suffered. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.